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Daily (04.12.2023): Brent crude plummeted by 5% on Friday as OPEC production cuts failed to support oil prices
Oil prices posted sharp falls on Friday as the recent cuts in crude oil production announced by some Opec+ exporting countries were received with doubt by the oil market, failing to produce the expected impact. As a result, Brent crude tumbled by about 5% to settle at $78.88 per barrel, while WTI crude declined by 2.5% to end at $74.07 per barrel.
read more... 04/12/2023
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German Grid Regulator Plans to Spread Clean Energy Costs Across All Regions
Consumers in Germany’s states with lower clean energy production may end up paying higher grid fees as the regulator plans to spread out evenly among regions the higher costs of adding renewables to the system.
read more... 04/12/2023
RWE and Masdar to co-develop giant British offshore wind project
Germany's RWE has signed an agreement with the UAE’s clean energy developer, known as Masdar, to develop a 3 gigawatt (GW) wind project off the coast of Britain, capable of powering around 3 million homes, the companies said on Friday.
read more... 04/12/2023
EV charging growth plans slowed by EU's power grid problems
Electric vehicle drivers hoping to top up their batteries at one of Repsol's (REP.MC) 1,600 Spanish charging stations might well be disappointed, with nearly half lying dormant because they have no power connection.
read more... 04/12/2023
Daily (01.12.2023): European carbon prices hit 13-month low amid renewed selling
Oil prices closed lower on Thursday despite OPEC+ members announcing additional production cuts. The market responded cautiously to the announcement, as several OPEC and allied nations pledged further reductions to enhance market stability and balance. Consequently, Brent crude edged 0.3% down at $82.83 per barrel, while WTI crude ended over 2% lower to settle slightly below $76 per barrel.
read more... 01/12/2023